Crude oil broken support ~ 60 on last trading day. Shall downfall persist, next stronger support would be ~ 55. US shale companies have be ramping up production. Although Iran was banned from exporting crude, US announced waiver for few major importer countries. Technically price could rebound anytime. 64 shall be resistance. ahead. Trader could take position by following ETF on such swinging and volatile condition of oil.
Trade on bullish Oil: Oil ETF (ticker: DBO)
Trade on bearish Oil: Inverse Oil ETF (ticker: SCO)
Market Calendar:
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